Business News

Tariffs threaten market-leading tech, consumer stocks

NEW YORK (Reuters) - U.S. technology and consumer discretionary stocks have been insulated from global trade tensions, but if another round of U.S. tariffs on Chinese goods goes into effect, even those high-flying sectors could come down to earth. The United States and China have already imposed tariffs on $50 billion worth of each other’s goods. The White House has proposed tariffs on an additional $200 billion wo...

15 Sep 2:34 AM 0 Read More...

Campbell, Third Point urge shareholders to vote for two different boards

(Reuters) - Campbell Soup Co (CPB.N) and hedge fund Third Point LLC on Friday filed preliminary proxy materials urging the food company’s shareholders to vote in favor of two entirely different slates of board nominees. Third Point, run by billionaire investor Daniel Loeb, launched a proxy fight last week to replace Campbell’s 12-member board. Loeb’s $18 billion hedge fund, which owns a 5.65 percent stake, said...

15 Sep 2:34 AM 0 Read More...

Trump readies tariffs on $200 billion more Chinese goods despite talks: source

WASHINGTON (Reuters) - U.S. President Donald Trump has directed aides to proceed with tariffs on about another $200 billion of Chinese goods, despite Treasury Secretary Steven Mnuchin’s attempts to restart trade talks with China, a source familiar with the matter said on Friday. The timing for activating the additional tariffs was unclear. The green light for the tariffs, first reported by Bloomberg, initially drag...

14 Sep 9:29 PM 0 Read More...

Britain's FC bans ex-Deutsche Bank trader after Euribor rigging

(Reuters) - Britain’s Financial Conduct Authority has banned former Deutsche Bank trader Christian Bittar from performing any function in relation to any regulated financial activity. Bittar was sentenced to five years and four months after pleading guilty in March for plotting to rig global Euribor interest rates. Reporting by Justin George Varghese in Bengaluru, editing by Louise Heavens...

14 Sep 4:24 PM 0 Read More...

Airbus says worst-case Brexit would hit its sites beyond BritainL Spiegel

FRANKFURT (Reuters) - A worst-case scenario Brexit would affect Airbus’s sites not only in Britain but also in the rest of Europe, board member Tom Williams has told the German magazine Der Spiegel. For Airbus, which makes the wings for its passenger jets in Britain, that worst-case scenario would occur if Britain was no longer part of the EU aviation safety certification agency, EASA, which gives planes and parts ...

14 Sep 4:24 PM 0 Read More...

U.S. House Democratic leader says NAFTA should remain trilateral pact

WASHINGTON (Reuters) - U.S. House of Representatives Democratic Leader Nancy Pelosi on Friday warned the Trump administration that the NAFTA trade agreement should be maintained as a trilateral pact between the United States, Mexico and Canada and not just a U.S.-Mexico arrangement. Whatever deal ultimately is reached in negotiations will be reviewed by the next Congress that convenes in January and Pelosi could be t...

14 Sep 4:24 PM 0 Read More...

Oil prices rise as focus returns to supply concerns

LONDON (Reuters) - Oil rose on Friday, clawing back some territory after prices fell by the most in a month in the previous session, as the focus returned to supply concerns ahead of a November deadline for U.S. sanctions on Iranian crude. Brent crude was up 17 cents at $78.35 a barrel at 1044 GMT. The global benchmark fell 2 percent on Thursday after rising on Wednesday to its highest since May 22 at $80.13. U.S. W...

14 Sep 11:20 AM 0 Read More...

VW board to discuss future of Audi CEO Stadler on Monday: Spiegel

BERLIN (Reuters) - The supervisory board of Volkswagen will meet on Monday to discuss the future of Rupert Stadler, the suspended chief executive of its premium brand Audi, German magazine Der Spiegel reported on Friday. The magazine said the board was due to decide whether Stadler, who has been in police custody since mid-June as part of a broader probe into emissions cheating at Audi, should give up his position. C...

14 Sep 11:20 AM 0 Read More...

Volkswagen to end production of the Beetle next year

(Reuters) - Volkswagen (VOWG_p.DE) said on Thursday it would stop producing its Beetle compact car in 2019, ending a model that looked backward to the 1960s counterculture as the automaker prepares for a leap toward a future of mass-market electric cars. The original VW Beetle, developed in the 1930s, made a journey from a product identified with Adolf Hitler to a symbol of Germany’s rebirth as a democratic, indust...

14 Sep 11:20 AM 0 Read More...

Trade hopes, tech, and Turkey bolster world stocks

LONDON (Reuters) - Shares rose around the world on Friday as expectations grew that the United States and China would open new trade talks, while an interest rate hike in Turkey supported the lira and global risk appetite. The MSCI All-Country World index, which tracks shares in 47 countries, was up nearly half a percent on the day after the start of trade in Europe. Led by technology and autos stocks, the pan-Europe...

14 Sep 11:20 AM 0 Read More...